For a business owner, obtaining the right information is as important as finding the right location, or getting the best price.
The Small Business Development Center in New York is one of only a few SBDCs in the U.S. with a full-time library (which we call the Research Network). Its services are available for free, but only to New York SBDC clients.

Friday, April 28, 2017

In 2016, 79.9 million workers age 16 and older in the United States were paid at hourly rates, representing 58.7 percent of all wage and salary workers. Among those paid by the hour, 701,000 workers earned exactly the prevailing federal minimum wage of $7.25 per hour. About 1.5 million had wages below the federal minimum. Together, these 2.2 million workers with wages at or below the federal minimum made up 2.7 percent of all hourly paid workers.

The percentage of hourly paid workers earning the prevailing federal minimum wage or less declined from 3.3 percent in 2015 to 2.7 percent in 2016. This remains well below the percentage of 13.4 recorded in 1979, when data were first collected on a regular basis.

This report presents highlights and statistical tables describing workers who earned at or below the federal minimum wage in 2016. The data are obtained from the Current Population Survey (CPS), a national monthly survey of approximately 60,000 households conducted by the U.S. Census Bureau for the U.S. Bureau of Labor Statistics (BLS). Information on earnings is collected from one-fourth of the CPS sample each month.

Thursday, April 27, 2017

Mobile advertising is dominated by two giants, Facebook and Google. In fact, 85% of mobile advertising spend goes to those two channels, and they both now identify mobile as a primary area of importance for future growth. Facebook's mobile revenue is projected to grow by more than 50% year over year, with Google's growing at a healthy 20%.

How did Facebook and Google come to dominate the top of the mobile ad food chain? For starters, each boasts a network of more than a billion daily users. This enables both companies to offer high-quality targeting at a massive scale that most other channels can't replicate.

Facebook predicted early on that highly targeted app installs would be popular with advertisers. It guessed correctly, and now Facebook's mobile ad practice fuels more than 80% of its $5.2 billion annual advertising revenue stream. Meanwhile, Google has long been the dominant player in search advertising, which makes up the bulk of the $19 billion it earns in advertising revenue. Mobile is playing an increasingly important role as more than half of Google searches are now done on mobile, which some analysts estimate account for more than half of Google's ad revenue.

Despite such dominance, marketers run the risk of relying too much on these two networks to deliver the marketing results they need.

According to the company’s investigation of US digital video viewers who stopped watching videos due to various streaming issues, about 85% said they gave up because the load time took too long, while a nearly identical percentage said stalling and the dreaded problem of “rebuffering” caused them to end their viewing session.

Tuesday, April 25, 2017

Starting a business from scratch isn’t easy under any circumstances. But for members of the millennial generation, many of whom still sit atop a mountain of student loan debt, it can seem virtually impossible.

Student debt has risen dramatically in recent years to become the largest single debt source among those under 40. In fact, the average class of 2016 graduate will be saddled with $37,172 in student loan debt—enough to crush the entrepreneurial spirit of any would-be business owner.

Even so, if you have a business idea you believe in, there’s no reason to put those dreams on hold. With some careful planning and financial management—and a bit of luck—you can overcome your debt burdens and turn that killer idea into a reality.

Monday, April 24, 2017

National Small Business Week 2017 kicks off at the end of this month with an awards ceremony in Washington, D.C. where national award winners including the naming of this year’s national Small Business Person of the Year will be recognized and awarded for their achievements.

National Small Business Week is being held from April 30-May 6 and is an annual event hosted by the U.S. Small Business Administration to recognize the nation’s top small businesses, entrepreneurs, small business advocates and champions.

In addition to the awards ceremony April 30 – May 1 in Washington, D.C. with SBA Administrator Linda McMahon, a roadshow will take place in cities around the country, and several online events.

Events throughout National Small Business Week are made possible thanks in part to the support of leading companies and organizers who serve as cosponsors.

Saturday, April 22, 2017

Google’s Featured Snippets are not only often wrong, they’re also damaging to small businesses that depend on search traffic.

CelebrityNetWorth.com launched in 2008 because Brian Warner, a former finance major working at a digital media company, wondered what Larry David was worth.

"Honestly, I wanted to know how much money Larry David had," Warner said. "I think Curb Your Enthusiasm had just come back, and I was like, 'God, he must have made so much money from Seinfeld.' I Googled something like 'Larry David net worth' and the results were garbage."

According to CelebrityNetWorth.com, Larry David is now worth $400 million. Warner acknowledges that it’s an inexact science, but he and his employees don’t simply conjure their numbers. They look at real estate transactions, news reports of large purchases and salaries, and sometimes even correspond with the celebrity or their reps. Floyd Mayweather, whose net worth Warner estimates is perhaps the most-Googled due to his infamous spending habits, has personally sent the site screenshots accounting for his assets...

This line of questioning — how much celebrities are worth — is popular enough that Warner was able to quit his day job in 2012 to focus solely on the site. At its height, he said it had a 12-person staff.

Then Google happened.

For most of its history, Google was like a librarian. You asked a question, and it guided you to the section of the web where you might find the answer.

Friday, April 21, 2017

A survey of retail executives, the vast majority of them from primarily brick-and-mortar chains, found widespread concern about enhancing the value of their physical stores.

The polling from RIS News and Gartner found that more than one-third of respondents said optimizing stores and upgrading store-level bandwidth and infrastructure would be a top challenge in the coming years.

Worry about physical stores fits the industry narrative of the moment, with chain after chain announcing new or expanded efforts to shutter brick-and-mortar locations. A recent study estimated that efforts to close stores actually need to be accelerated if the industry as a whole is to address a glut of retail space.

Thursday, April 20, 2017

This Consumer Expenditure Survey (CE) Annual Report presents integrated data from the 2015 Diary and Interview portions of the CE, including data tables. The tables show average expenditures, income, and characteristics for consumer units1 classified by the following characteristics: quintiles and deciles of income, before-tax income class, age of the reference person, size of the consumer unit, composition of the consumer unit, number of earners, housing tenure and type of area (urban or rural), region of residence, occupation, highest education level of any consumer-unit member, race, and Hispanic or Latino origin. This report highlights spending patterns for 2015 from the CE, including a brief discussion of expenditure changes for the year, and provides a description of the CE survey.

Consumer spending increased 4.6 percent in 2015, according to annual data from the CE. This follows an increase of 4.7 percent in 2014, previously recorded by the CE. The average annual expenditures by consumer units (CUs) increased from $53,495 in 2014 to $55,978 in 2015. Accompanying the 2015 increase in expenditures was an increase of 4.1 percent in average income before taxes from 2014 ($66,877) to 2015 ($69,627). Prices, as measured by the average annual change in the Consumer Price Index for All Urban Consumers (CPI-U, U.S. city average, all items, base period 1982–1984=100), rose by 0.1 percent in 2015, compared with the 4.6-percent increase in spending. In 2014, prices increased by 1.6 percent, compared with the 4.7-percent increase in spending

Wednesday, April 19, 2017

What skills are most important for companies that are hiring? There are some skills and qualities that employers require of all applicants for employment, regardless of the position they are hiring for.

These are called soft skills, and they include the interpersonal skills and attributes you need to succeed in the workplace.

In addition, there are the more tangible skills you need in order to do the job effectively.

These are called hard skills, and they are the specific knowledge and abilities required to do the job. There's a difference between hard and soft skills.

You’ll need both for most jobs, and it's important to show employers that you have the skills they need when you're applying and interviewing for jobs.

Tuesday, April 18, 2017

A catering business is a perfect opportunity for the people who love to cook. It is a profitable business and ensures lucrative margin to the owners.

Additionally, you can start this business as part-time. As your business grows, you can consider giving your full effort. In this post, we intend to explore how to start a home-based small catering business.Catering is a financially profitable and self-rewarding business.

However, It is a demanding career. It requires stamina, an ability to work under pressure, and excellent interpersonal skills. And the success of this business hugely depends on the personal reputation. You do not need special education or training to become a successful caterer. However, taking some courses at culinary institutes or vocational schools can significantly help improve the quality of your food offerings. Instead of taking classes, you can also work for an established caterer to know the inside of the business operations. Additionally, small caterers generally cater a wide range of functions and events. The list includes birthday parties for children, breakfast in bed, candlelight dinners, holiday party, picnics, family reunions, company dinner parties and wedding receptions.

Monday, April 17, 2017

US teenagers age 13-17 say YouTube and Netflix are the coolest brands, according to recent research from Think With Google.

The report was based on data from a survey conducted by YouGov in June 2016 of 1,100 people age 13-17 (Generation Z) in the United States. Respondents were asked to rank 122 popular brands on how known they are and how cool they are.

The purpose of this magazine is to provide a glimpse into the world of teens in the US through the lens of what they find cool. Cool is an indication of what people pay attention to, what gets them excited, and can often act as a manifestation of their hope and dreams. Unlike millennials, this group is ambitious, engaged, and feel like they can change the world. For Generation Z, what’s cool is also a representation of their values, their expectations of themselves, their peers, and the brands they hold in the highest regard. What you’re looking at is proprietary research conceived and executed by the Brand Team for Consumer Apps at Google. We hope it serves as glimpse into the minds of the most informed and connected generation yet—Gen Z.

Saturday, April 15, 2017

Justin Ramsey permanently banned from robocalling individuals, calling numbers on the Do Not Call Registry

The FTC has obtained a settlement order with Justin Ramsey, the ringleader of telemarketing operations that blasted illegal robocalls to consumers and called phone numbers listed on the National Do Not Call (DNC) Registry. The order bans Ramsey and his company, Prime Marketing LLC from placing robocalls to individuals to sell goods or services, initiating sales calls to numbers listed on the DNC Registry, and selling data lists containing phone numbers listed on the Registry. This settlement resolves the Federal Trade Commission’s charges against Ramsey.

Ramsey and Prime Marketing also agreed to a $2.2 million civil penalty, which will be suspended upon payment of $65,000. The full judgment will become due if they are later found to have misrepresented their financial condition.

From 2014 through 2016, Ramsey continued his unlawful telemarketing through his new company, Prime Marketing. Just during April and May of 2016, Ramsey and Prime Marketing initiated at least 800,000 calls to numbers listed on the DNC Registry.

The Commission vote authorizing staff to file the proposed stipulated federal court order settling the charges against Ramsey and Prime Marketing LLC was 2-0. FTC staff filed the proposed order in the U.S. District Court for the Southern District of Florida.

NOTE: Stipulated court orders have the force of law when approved and signed by the District Court judge.

Friday, April 14, 2017

The IRS will begin contacting some taxpayers whose overdue federal tax accounts are being transferred to private collection agencies. But watch out for scammers who might claim to be associated with the program to try to steal your money. Keep in mind, the IRS will always send you a letter first before assigning your account to a private collection agency (PCA).

Learn more about this new private debt collection program, including how to avoid tax scams and protect your taxpayer rights.

Starting this month, the Internal Revenue Service will begin sending letters to a relatively small group of taxpayers whose overdue federal tax accounts are being assigned to one of four private-sector collection agencies.

The new program, authorized under a federal law enacted by Congress in December 2015, enables these designated contractors to collect, on the government’s behalf, unpaid tax debts. Usually, these are unpaid individual tax obligations that are not currently being worked by IRS collection employees and often were assessed by the tax agency several years ago.

Taxpayers being assigned to a private firm would have had multiple contacts from the IRS in previous years and still have an unpaid tax bill.

“The IRS is taking steps throughout this effort to ensure that the private collection firms work responsibly and respect taxpayer rights,” said IRS Commissioner John Koskinen. “The IRS also urges taxpayers to be on the lookout for scammers who might use this program as a cover to trick people. In reality, those taxpayers whose accounts are assigned as part of the private collection effort know they have a tax debt.”

The program will begin this week with a few hundred taxpayers receiving mailings and subsequent phone calls, with the program growing to thousands a week later in the spring and summer. Taxpayers with overdue taxes will always receive multiple contacts, letters and phone calls, first from the IRS, not private debt collectors.

How the New Program Works

The IRS will always notify a taxpayer before transferring their account to a private collection agency (PCA). First, the IRS will send a letter to the taxpayer and their tax representative informing them that their account is being assigned to a PCA and giving the name and contact information for the PCA. This mailing will include a copy of Publication 4518, What You Can Expect When the IRS Assigns Your Account to a Private Collection Agency.

Only four private groups are participating in this program: CBE Group of Cedar Falls, Iowa; Conserve of Fairport, N.Y.; Performant of Livermore, Calif.; and Pioneer of Horseheads, N.Y. The taxpayer’s account will only be assigned to one of these agencies, never to all four. No other private group is authorized to represent the IRS.

Once the IRS letter is sent, the designated private firm will send its own letter to the taxpayer and their representative confirming the account transfer. To protect the taxpayer’s privacy and security, both the IRS letter and the collection firm’s letter will contain information that will help taxpayers identify the tax amount owed and assure taxpayers that future collection agency calls they may receive are legitimate.

The private collectors will be able to identify themselves as contractors of the IRS collecting taxes. Employees of these collection agencies must follow the provisions of the Fair Debt Collection Practices Act, and like IRS employees, must be courteous and must respect taxpayer rights.

The private firms are authorized to discuss payment options, including setting up payment agreements with taxpayers. But as with cases assigned to IRS employees, any tax payment must be made, either electronically or by check, to the IRS. A payment should never be sent to the private firm or anyone besides the IRS or the U.S. Treasury. Checks should only be made payable to the United States Treasury. To find out more about available payment options, visit IRS.gov/Payments.

Private firms are not authorized to take enforcement actions against taxpayers. Only IRS employees can take these actions, such as filing a notice of Federal Tax Lien or issuing a levy. To learn more about the new private debt collection program, visit the Private Debt Collection page on IRS.gov.

Watch out for Phone Scams

The IRS reminds taxpayers to be on the lookout for scammers posing as private collection firms. The IRS will be watching for these schemes as the collection program begins, and this effort will include working with partners in the tax community and law enforcement about emerging scams.

People should remember that these private collection firms will only be calling about a tax debt the person has had – and has been aware of – for years and had been contacted about previously in the past by the IRS.

“Here’s a simple rule to keep in mind. You won’t get a call from a private collection firm unless you have unpaid tax debts going back several years and you’ve already heard from the IRS multiple times,” Koskinen said. “The people included in the private collection program typically already know they have a tax issue. If you get a call from someone saying they’re from one of these groups and you’ve paid your taxes, that’s a sure sign of a scam.”

If taxpayers are unsure if they have an unpaid tax debt from a previous year – which is what the private collection firms will handle – they can go to IRS.gov and check their account balance: www.irs.gov/balancedue. If the account balance says zero, that means nothing is due, and you typically wouldn’t be getting a contact from the IRS or the private firm.

Whether or not a taxpayer’s account is assigned to a private collection agency, the IRS warns taxpayers to beware of scammers pretending to be from the IRS or an IRS contractor.Here are some things the scammers often do but the IRS and its contractors will never do.

Call to demand immediate payment using a specific payment method such as a prepaid debit card, gift card or wire transfer. Generally, the IRS will first mail a bill to any taxpayer who owes taxes, and if a case is assigned to a PCA, both the IRS and the authorized collection agency will send the taxpayer a letter. Payment will always be to the United States Treasury.

Threaten to immediately bring in local police or other law-enforcement groups to have the taxpayer arrested for not paying.

Demand that taxes be paid without giving the taxpayer the opportunity to question or appeal the amount owed.

Ask for credit or debit card numbers over the phone.

“Unexpected and threatening calls out of the blue from someone saying they’re representing the IRS to collect a tax debt is a warning sign people should watch out for,” Koskinen said.

As always, the IRS encourages taxpayers behind on their tax obligations to come forward and either pay what they owe or set up a suitable payment plan. This means there’s no need to wait for a phone call or letter from the IRS or any of its contractors.

Frequently, taxpayers qualify for one of several payment options, and taking advantage of them is often easier than many people think. These include the following:

Most people can set up a payment agreement with the IRS online in a matter of minutes. Those who owe $50,000 or less in combined tax, penalties and interest can use the Online Payment Agreement to set up a monthly payment agreement for up to 72 months. Taxpayers can choose this option even if they have not yet received a bill or notice from the IRS. With the Online Payment Agreement, no paperwork is required, there is no need to call, write or visit the IRS and qualified taxpayers can avoid the filing of a Notice of Federal Tax Lien if one was not previously filed. Alternatively, taxpayers can request a payment agreement by filing Form 9465. This form can be downloaded from IRS.gov and mailed along with a tax return, bill or notice.

Some struggling taxpayers may qualify for an offer-in-compromise. This is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay. To help determine eligibility, use the Offer in Compromise Pre-Qualifier, a free online tool available on IRS.gov.

“If people have a problem paying their tax bill, we encourage them to reach out to us,” Koskinen said. “We have many programs designed to help people who are having trouble meeting their tax obligations. It’s better to reach out to us sooner rather than later for help, because interest and penalties on unpaid taxes can add up quickly.”

Thursday, April 13, 2017

Consumers know what they want, and when it comes to visiting a small business’ website, they expect the same experience they would get from a larger chain.

If website visitors don’t get that experience—whether because the site doesn’t provide simple information like an address or business hours, or because it has a poor mobile experience—then they are left with a bad impression.

A reputation is a delicate thing, which can take years to build up and mere moments to sully.

And the way a company communicates with stakeholders and the general public during a crisis can be pivotal in determining whether it bounces back stronger than ever or is irrevocably tarnished by its response to the situation.

Whether it’s adversity towards a product or tragedy, reputation is one of the key elements to business success and companies will work hard to retain one thing from their customers – trust.

Wednesday, April 12, 2017

The Business Payments Coalition recently released the third
version of its Small Business Payments Toolkit.
This document, available as a free download, encourages the adoption of
electronic business-to-business (B2B) payments by small businesses. Checks are
the main way small businesses make B2B payments. This is a problem because checks
are expensive, labor-intensive and prone to fraud. Using plain language, the
Toolkit educates small businesses on the benefits of using electronic payment
types such as Automated Clearing House credits and debits, wire transfers, and
credit and debit cards instead of checks. It offers tips on working with
bankers and covers what small businesses need to know to get started making and
receiving electronic payments. It provides practical information on how to
avoid losses due to payments fraud. An extensive resources section has links to
additional information.

The Toolkit isn’t just for small businesses. Corporations that
want to motivate their smaller trading partners to give up checks, small
business bankers, advisors and anyone else interested in learning more about
B2B payments and/or helping small businesses improve their payments processing will
find it helpful. Visit this link to download this free resource: https://fedpaymentsimprovement.org/wp-content/uploads/small-business-toolkit.pdf

The Business
Payments Coalition is a group of payments industry participants that
conduct volunteer work to fulfill their mission of increasing the efficiency of
business-to-business (B2B) payments and promoting
straight-through-processing.New members
are always welcome.

Tuesday, April 11, 2017

This could be the year you decide to stop working for someone else and start your own business. While your individual skills and interests are key to determining what type of venture to pursue, the last thing you want to do is start a business in an industry with a gloomy outlook. Here are five industries with promising futures, based on data from the U.S. Bureau of Labor Statistics, market research firm IBISWorld and financial information company Sageworks.

Monday, April 10, 2017

It is daunting to start your own business—very daunting. There are a hundred and one things that can go wrong, and inevitably it will the thing that you’re least expecting.

To be honest, it doesn’t matter if you are starting up a business for the first time, or kicking off your latest venture; it doesn’t get less challenging. This is why advice from people who have gone through something similar can be both hugely helpful and crucially important.

I should know: I have started a few online ventures, the most recent of which has grown into a market-leading VPN site. But the road has not always been a smooth and straightforward one, and I am the first to admit that I have made a few mistakes along the way.

But if reading this helps you to avoid these five simple—yet costly—mistakes, then it will be a few minutes very well spent. So here is my run-down of the five biggest mistakes I made when starting my business (so you don’t have to make them too)

Friday, April 07, 2017

In 2015, households spent an average of $528 on pets, or about 1 percent of average household spending. Pet expenditures include pet food; pet purchases, supplies, and medicine; pet services; and veterinary services. Average household spending on pet food jumped from $190 in 2014 to $230 in 2015, or from 37 percent of average household spending on pets to 44 percent.

Average household spending on veterinary services, which reached over $200 in 2008, was $133 in 2015, or about 25 percent of average household expenditures on pets. Average household spending on pet purchases, supplies, and medicine, which represented 34 percent of average household spending on pets in 2010, measured only 22 percent of pet expenditures in 2015, falling from $163 to $116 over that period.

On average, households with one consumer spent the least on pet expenditures in 2015 ($360), while households with two consumers spent the most ($672). Average household spending on pets by households with two consumers increased by about $100 from 2014 to 2015, while average household spending on pets in households with 5 or more consumers decreased by about $150 over the same period.

Thursday, April 06, 2017

For over 60 years, the Standard Industrial Classification (SIC) system has served as a widely accepted structure for the analysis of businesses participating in the US economy. Marketers have long looked to the SIC system and its predecessor—the North American Industry Classification System (NAICS)—to simplify the processes behind identifying, segmenting, and targeting potential customers and prospects.

But what if you don't have a lot of marketing experience in an industry? Perhaps you are just starting out and need to quickly understand the makeup of your potential customers and prospects, and profile them.

Understanding SIC and NAICS can seem like a daunting task, but having a cursory comprehension of these systems can help you support various marketing activities.

The US Census Bureau assigns one code to each establishment based on its primary activity (generally the activity that generates the most revenue). Classification codes are typically derived from information that business establishments provide on surveys, census forms, and administrative records.

SIC is a four-digit, top-down code: The first two digits of the code sequence define the major industry sector, and the second two digits further refine the sub-classification of that sector.

NAICS is a newer, six-digit version of SIC, first put used in 1997. Though NAICS has largely replaced SIC, some areas of government and business still use SIC codes, so it is important to understand both classification systems.

Wednesday, April 05, 2017

What skills are most important for companies that are hiring? There are some skills and qualities that employers require of all applicants for employment, regardless of the position they are hiring for.

These are called soft skills, and they include the interpersonal skills and attributes you need to succeed in the workplace.

In addition, there are the more tangible skills you need in order to do the job effectively.

These are called hard skills, and they are the specific knowledge and abilities required to do the job. Here's information on the difference between hard and soft skills.

You’ll need both for most jobs, and it's important to show employers that you have the skills they need when you're applying and interviewing for jobs.

Tuesday, April 04, 2017

Don't Miss U.S. House Committee on Small Business Hearing, "Taking Care of Small Business: Working Together for a Better SBA"

Wednesday, April 5, 2017, 11 am EDT

Linda McMahon, SBA Administrator will appear in front of the U.S. House Committee on Small Business. The hearing titled, "Taking Care of Small Business: Working Together for a Better SBA" is scheduled to begin at 11:00 A.M. on Wednesday, April 5, 2017 in Room 2360 of the Rayburn House Office Building.

The Honorable Linda McMahon was sworn in on February 14, 2017 as the 25th Administrator of the United States Small Business Administration (SBA). From 1980 to 2009, Administrator McMahon was active in her family's company, World Wrestling Entertainment, Inc., eventually becoming President and Chief Executive Officer. WWE began as a small regional company and grew into a large, global business. The Committee will hear from Administrator McMahon about her priorities for entrepreneurs and the SBA.

Cornell Program on Applied Demographics has updated the series of county profiles it published a few years ago. PAD got many requests for an update and finally, it is here.

This update consists mainly of updated data, but also includes some changes in charts and tables. PAD also decided to concentrate on Demographic, Social and Economic data in this update and not update the agricultural and related data that was in the 2013 version.

Monday, April 03, 2017

In March 2017, Treasury Secretary Steven Mnuchin made headlines by saying that the displacement of jobs by artificial intelligence was “not even on our radar screen … 50-100 more years” away.

This drew a host of shocked responses from those who point out that AI and automation have already eliminated millions of American jobs and may replace many more in the next 5 or 10 years, let alone 50–100. In fairness to the secretary, his comment responded directly to a question about artificial intelligence. In the broader discussion, he spoke about low-paying jobs being replaced by automation, which many of the critiques consider together with artificial intelligence.

The impact of automation is of unquestionable importance: One report released on the same day as Secretary Mnuchin’s comments suggested that 38 percent of U.S. jobs are at “high risk” of automation in the next 20 years.

Visit the NY SBDC website

About the blog:

The Research Network aims the content of this blog primarily at the New York Small Business Development Center (NY SBDC) community on the kinds of things we encounter every day. Views expressed are those of the Research Network staff, and not necessarily those of the New York SBDC or its partners. Comments to an individual post are encouraged. Such comments will be monitored, so please, keep them clean and professional.

Definition of a small business by the US federal government

Definition of a small business in the state of New York

Consolidated Law for the State of New YorkEconomic Development Law § 131§ 131. Definition of a small business. For the purposes of this chapter, a small business shall be deemed to be one which is resident in this state, independently owned and operated, not dominant in its field and employs one hundred or less persons.

World Reference

The NYS SBDC, administered by the State University of New York, is funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.